A Goldman Sachs (GS.N: Quote, Profile, Research, Stock Buzz) unit has bought a 50 percent stake in privately-held British motor insurer Hastings, in a deal that values the company at 700 million pounds ($1.13 billion), Reuters reported.
Outrigger Energy has raised $200 million from Kayne Anderson Capital Advisors. Private investor Brion G. Wise and Outrigger Energy's management also participated in the investment. Based in Denver, Colorado, Outrigger Energy is a provider of midstream services to crude oil and natural gas producers.
An investment group led by Firsthand Technology Value Fund has completed its acquisition of IntraOp Medical Corp. No financial terms were disclosed. Headquartered in Sunnyvale, Calif., IntraOp is a provider of tech-based cancer treatments.
The Canadian government said on Monday it blocked a bid from a company controlled by Egyptian telecom tycoon Naguib Sawiris to buy a fiber optic network, citing national security concerns. Manitoba Telecom Services Inc (MTS) had announced in May it would sell its Allstream fiber optic network for C$520 million to Accelero Capital Holdings, which is controlled by the Egyptian telecom magnate.
Toronto-based Laborie Medical Technologies Inc, a portfolio company of Audax Group, said Tuesday that it has completed its buy of UroMed Technology Inc. No financial terms were disclosed. Headquartered in San Ramon, California, UroMed is a provider of biofeedback and electrical stimulation medical equipment and accessories. Laborie is a maker and provider of medical testing equipment and consumables. Update: Laborie, which was acquired by U.S.-based private equity firm Audax in 2012, earlier this year purchased Life-Tech Inc of Stafford, Texas.
Tenex Capital Management said Tuesday that it has inked an agreement to buy Walter Meier Tools. No financial terms were disclosed. The transaction is expected to be completed by October 31st, 2013. Based in Nashville, Tennessee, Walter Meier Tools is the maker of machinery and equipment under the JET, Wilton and Powermatic brands.
AUA Private Equity said Tuesday that it has recapitalized its portfolio company Associated Foods. No financial terms were disclosed. Based in the New York metropolitan area, Associated is a distributor of grocery products to independent retail supermarkets.
Monroe Capital has provided a $78.5 million senior secured credit facility to support the buyout of Escort Inc. The business is being acquired by New York City private equity sponsor Monomoy Capital Partners.
Calgary-based Bonnett's Energy Corp (TSX: BT) a provider of services to downhole clients in the Western Canada Sedimentary Basin, is seeking shareholder approval of a take-private acquisition proposal, announced in September, by an investor group led by U.S. private equity firm Mill City Capital. The investor group includes members of the company's management team. The transaction, which has been recommended by Bonnett's board of directors, values the company at approximately $117 million. Shareholders will consider the Mill City proposal at a special meeting to be held on October 31, 2013.
N. Harris Computer Corp, a subsidiary of Toronto-based software company Constellation Software Inc (TSE: CSU), has agreed to purchase Sand Technology Inc for around $3.65 million. The transaction is expected to close in November 2013. With offices in Canada, the United States, Europe and Australia, Sand is an advanced analytic database platform. Constellation is a portfolio investment of OMERS Private Equity, which has backed the company since 2000.